First Reserve Corp. has backed a repeat management team and created an E&P company, Templar Energy LLC.

Templar is focused on investing primarily in the mature, liquids-rich producing basins in the Mid-Continent Region, while also evaluating opportunities outside the region which fit its economic criteria.

According to the release, the Templar team is led by industry veteran David Le Norman. Le Norman worked with First Reserve previously, most recently as part of TLP Energy and its operating subsidiary Le Norman Operating, an Oklahoma City-based oil and gas producer.

Templar has completed its first acquisition in the Anadarko Basin. The first asset package acquired has approximately 7,000 net acres in Ellis and Roger Mills counties in Oklahoma with average October 2012 daily production of approximately 1,500 barrels of oil equivalent per day.

Templar is the latest iteration of Le Norman’s team in building companies that operate in various E&P regions across the US. This strategy is predicated on the deployment of the team’s core competencies in horizontal drilling and multi-isolation stimulation of various reservoirs and lithology.

Financial terms of the First Reserve investment were not disclosed.

First Reserve Corp is a global energy-focused private equity and infrastructure investment firm.